The Malaysian national government signed a Memorandum of Agreement (MOU) with the Philippine government under the Duterte administration for the $200 million worth of palm oil plantations in Mindanao and Palawan.

Trade Secretary Ramon Lopez confirmed to the Philippine Star that the palm oil plantations project financed by the Malaysian government involves about one million hectares of agricultural land in the Philippines and will be developed on a phase-by-phase basis starting with the most peaceful areas.

During the previous administrations, the Malaysian government's investments in the Philippines was only $63 million but not until Pres. Duterte assumed office as chief executive.

When compared to other countries, Malaysia invested billions of dollars despite the close proximity of the Philippines and Malaysia.

The Philippine delegation who visited Malaysia assured the investors that the Duterte admin is working hard to cut red tape aside from ensuring security and maintaining peace and order all over the country.

The palm oil plantation project by the Malaysian government to the Philippines is part of Pres. Duterte's effort to raise the economic engagements between the Philippines and Malaysia.

Malaysia's palm oil production is a vital part of their economy and their expertise will surely help the Philippine economy in various ways. Malaysia is considered as the second largest producer of palm oil in the world, they are just behind with the No. 1 palm oil producer, Indonesia.